Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Gap Down – Here’s What Happened

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $10.60, but opened at $9.13. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $9.67, with a volume of 98,866,623 shares.

Direxion Daily Semiconductors Bull 3x Shares Stock Down 10.8 %

The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of 22.62 and a beta of 4.11. The business’s 50-day moving average is $19.77 and its 200-day moving average is $27.15.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bull 3x Shares

Several hedge funds have recently bought and sold shares of the stock. Integrated Advisors Network LLC acquired a new position in Direxion Daily Semiconductors Bull 3x Shares during the first quarter worth $959,000. IMC Chicago LLC increased its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 83.3% during the first quarter. IMC Chicago LLC now owns 146,526 shares of the company’s stock worth $2,337,000 after purchasing an additional 66,606 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Direxion Daily Semiconductors Bull 3x Shares in the 1st quarter valued at $32,000. Parallel Advisors LLC raised its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 46.9% in the first quarter. Parallel Advisors LLC now owns 5,512 shares of the company’s stock valued at $88,000 after buying an additional 1,760 shares during the last quarter. Finally, Copia Wealth Management purchased a new position in Direxion Daily Semiconductors Bull 3x Shares in the 4th quarter worth approximately $36,000.

About Direxion Daily Semiconductors Bull 3x Shares

The Direxion Daily Semiconductor Bull 3X Shares (SOXL) is an exchange-traded fund that is based on the ICE Semiconductor index. The fund provides 3x daily exposure to a modified market-cap-weighted index of 30 US-listed semiconductor companies. SOXL was launched on Mar 11, 2010 and is managed by Direxion.